differentiation for average foreign talents
Myth 101 'The fallacy that we must compete for lowest wage or cost' I have posted this myth yesterday and explained that there is no need to bring everything to rock bottom especially in our competition with other countries. There is also no need to pit our workforce with the cheap labour of India and China. There is no need to go down on our knees to beg for foreign talents to come to our shores to compete with our local talents. Here we need our supertalents to find a solution to justify their worth and their exceptional remuneration. There are such things as niche market, market differentiation and product differentiation. This can best be seen in the prices of upmarket properties. While others are coming down, property prices in prime locations are shooting to the stars. And our medical fees can be priced higher than the regional hospitals, why? Then the taboo topic that I avoided to talk about. While the pay of most public and private sectors are going down, the pay of top govt officials are also shooting to the sky, like top end properties. The elite may complain that this is politics of envy. I am conscious of how the elite feel on this. But this point is raised from the angle of product differentiation or market differentiation. At the top end, like top class foreign talents, the market is different. The air in stratosphere is also different. Then there is the element of no competition. Back to the foreign talent market. At the middle, the bulge of the bell curve, there are millions of them available. They are not a talent that is so special or exclusive that we cannot do without. At this average level of talents, there is no difference whether the talent has a third class, second class or general degree, or whether he comes from a third grade or second grade university. The job he is going to do or doing does not require any exceptional talent that our locals did not have. At this level, they should be competing on a level playing field. Or, the locals shall have a slight advantage in the competition. That's is what privilege of citizenship is all about. Any foreign talent that thinks he is competing unfairly and does not like our terms, thank you, find a better place to go. There will be more hungrier foreign talents who will come happily to take up what is available. Yes. lets cut out the bullshit. There is no shortage of talent at the average talent level.